In a previous blog post, I discussed the requirements and characteristics of a Qualified Domestic Trust (QDOT) bond. This post supplements the previous one by including more helpful information. Alternatives to QDOT bonds include irrevocable letters of credit or...
A Qualified Domestic Trust (QDOT) bond is in favor of the Internal Revenue Service (IRS) to guarantee the payment of taxes due on such a qualified domestic trust. A QDOT is a very specific type of trust. A wealthy American citizen sets up this type of trust, prior to...
Why do courts require surety bonds instead of cash or security deposits from litigants, guardians, and other principals? Generally, courts do not have the capacity to manage and keep track of cash collateral or security deposits. In the past, courts have misplaced...
